Study: Medical robotics industry will hit $1.3B in 2016
Advances in robotic capabilities, combined with the improving economic environment for medical services delivery and payments, are driving demand for surgical, assistive and telemedicine-based robots, according to ABI Research.
A report by ABI, “Healthcare and Medical Robots,” predicts the global market for medical robotics will grow from just under $790 million in 2011 to nearly $1.3 billion in 2016, driven largely by sales of advanced surgical robots and related automated radiosurgical systems.
However, the initial cost of implementing these systems remains a barrier, particularly for smaller medical organizations. In addition, robotic systems for medical care and treatment require thorough clinical testing and trials as part of the regulatory approvals process. This can raise these products’ prices and draw out the time it takes to get them to market, according to ABI.
The market is also limited by the number of qualified medical institutions or practitioners who can utilize these devices. Smaller organizations simply may not be able to afford the up-front capital expenditure associated with robots, which can cost anywhere from tens of thousands of dollars to more than $4 million per unit, the research firm stated.
A report by ABI, “Healthcare and Medical Robots,” predicts the global market for medical robotics will grow from just under $790 million in 2011 to nearly $1.3 billion in 2016, driven largely by sales of advanced surgical robots and related automated radiosurgical systems.
However, the initial cost of implementing these systems remains a barrier, particularly for smaller medical organizations. In addition, robotic systems for medical care and treatment require thorough clinical testing and trials as part of the regulatory approvals process. This can raise these products’ prices and draw out the time it takes to get them to market, according to ABI.
The market is also limited by the number of qualified medical institutions or practitioners who can utilize these devices. Smaller organizations simply may not be able to afford the up-front capital expenditure associated with robots, which can cost anywhere from tens of thousands of dollars to more than $4 million per unit, the research firm stated.